Financial Information

Mon, 2012-04-30 13:21 -- batch_migrate

Financial Information

IMPORTANT INFORMATION FOR 2014: CREDIT REFUNDS

In July 2010, Anderson University began partnering with Higher One, a financial services company focused solely on higher education, to bring an improved method of delivering refunds (credit balance disbursements) to all Anderson University students — the Anderson Easy Refund Program.

Simply put, the Anderson Easy Refund program is designed to provide you with increased choice when it comes to receiving your financial aid or school refunds — including the preferred “Easy Refund” method. Easy Refund is by far the fastest and easiest way to gain access to your refund money — literally the same day Anderson University releases it. Click here for more information on Higher One.

RETURNING STUDENTS:

Returning students should have previously received and activated their card during their previous academic year. If you are a returning student and have not received a card at any point, and have not yet activated your refund option with HigherOne, please contact Randy Coppess in the Business Office at ext. 4001 or by e-mail at racoppess@anderson.edu.

NEW STUDENTS:

Once registered for classes, you will receive a bright green envelope containing your new Easy Refund Card and information on the program. Please do not throw away this important card since it is your key to receiving your refund. Follow the instructions for activation and you will be on your way to quick refunds!

If you’re not sure that Anderson University has your current mailing address, please take a moment to visit AccessAU to review your address information today. If you need to make a change, please e-mail registrarinfo@anderson.edu and let them know your new home address. If the change is for a temporary summer address and not a change to your permanent home address, please indicate so in your e-mail.

Financial Aid Facts

In early July you will receive a student billing statement for Semester I from the Office of Student Financial Services. It will show the amount due after subtracting financial aid from tuition, room, board, and other charges. To determine this amount now, complete the payment planning worksheet that came with your financial aid award. Details on managing your student account can also be found at www.anderson.edu/finaid/.

In order to complete your payment arrangements with Anderson University, you need to choose from the following options. If you are considering option two or three, Tuition Management Systems (TMS) can calculate for you the optimal combination of PLUS loan borrowing and payment plan financing for your family budget. For your free analysis, go online to https://www.afford.com/anderson/ or call (800)722-4867.

Option 1 — Direct payment in full to Anderson University.

If you choose this option, the amount shown as due on the student billing statement is to be paid directly to Anderson University by July 25, 2014.

Option 2 — Enroll in a payment plan.

Anderson University has made arrangements through TMS to provide an interest-free monthly payment plan. You may have already received an enrollment packet from TMS or you can enroll online at https://www.afford.com/anderson/ or by calling TMS at (800) 722-4867. Your first payment will be due July 1, 2014. Under the ten month payment plan your first payment will be due August 1, 2014.

Option 3 — Federal Direct PLUS loan.

Credit-worthy parents of dependent students are eligible to borrow funds equal to the cost of education less other financial aid. The interest rate is fixed at 7.9 percent. The loan is repaid over a 10-year period with payments beginning after the loan has been disbursed although deferment options are available. Apply online at www.anderson.edu/finaid/processing.html.

Option 4 — Private (non-federal Student Loan).

The interest rates and fees on private student loans may be different than the students' Federal Direct Loan or the Parent's Federal Direct PLUS Loan so you should consider borrowing under these programs before you consider borrowing a private student loan. The lender usually will require you to have a credit worthy co-signer before approving your loan. Additional information can be found on the Student Financial Sevices website at http://www.anderson.edu/finaid/processing.html.

Be prepared to purchase books and supplies when you arrive on campus using a personal check or credit card. The estimated average cost of books and supplies per semester is $600. You may charge to your account the cost of your books and supplies purchased at the University Bookstore during the first two weeks of school.

Semester costs for 2014-15:

Tuition (12-18 hrs)$13,385 per semester

Room (semi-private)$2,960 per semester

Basic Meal Plan$1,665 per semester

Health Services fee$40 per semester

Please contact the Office of Student Financial Services if you need help determining your financial obligation to AU or if you need assistance in choosing one of the financing options. You can reach us at (800) 421-1026 or (765) 641-4180 or at sfs@anderson.edu.